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2 Mar 2015
EUR/GBP firmer, eyes on 0.7300
FXStreet (Edinburgh) - EUR/GBP is prolonging the bounce off recent lows in the 0.7230 area, currently hovering over 0.7290.
EUR/GBP boosted by euro
The shared currency is staging quite a recovery today following mixed data from the PMIs in the euro area and consumer prices above forecasts in the euro bloc. Despite the current relief rally, the perspective for the cross remains entrenched in the bearish camp, with the divergent monetary policies from the BoE and the ECB being the main drivers in the broader scenario.
EUR/GBP relevant levels
At the moment the cross is advancing 0.55% at 0.7288 with the next hurdle at 0.7326 (high Feb.26) followed by 0.7336 (10-d MA) and then 0.7348 (high Feb.24). On the flip side, a break below 0.7235 (2015 low Mar.2) would aim for the psychological levels at 0.7200 and 0.7100.
EUR/GBP boosted by euro
The shared currency is staging quite a recovery today following mixed data from the PMIs in the euro area and consumer prices above forecasts in the euro bloc. Despite the current relief rally, the perspective for the cross remains entrenched in the bearish camp, with the divergent monetary policies from the BoE and the ECB being the main drivers in the broader scenario.
EUR/GBP relevant levels
At the moment the cross is advancing 0.55% at 0.7288 with the next hurdle at 0.7326 (high Feb.26) followed by 0.7336 (10-d MA) and then 0.7348 (high Feb.24). On the flip side, a break below 0.7235 (2015 low Mar.2) would aim for the psychological levels at 0.7200 and 0.7100.